Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials $ 31,000 Indirect materials used in production 5 4.770 Direct labor $ 58,600 Manufacturing overhead applied to work in process $ 85,700 Under applied overhead 34.00 Inventories Beginning Ending Raw materials $ 11,900 $ 18,500 Work in process $ 55,400 $ 68,600 Finished goods $ 33,000 $ 42,700 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured Direct materials Total raw materials available Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Tentories Raw materials work in process Finished goods Begin $11.900 $ 55,00 $ 33.000 Ending $ 18,500 $ 60,000 $ 42,700 Required: 1. Prepare a schedule of cost of goods manufactured for the month 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to cost of Goods Sold. Primare Corporation Schedule of Cost of Goods Sold